American Express Global Business Travel announced that it will begin trading as a public company on the New York Stock Exchange on 31 May 2022.
The company, which initially announced its plan to go public via a business combination with Apollo Strategic Growth Capital last December, will trade under the symbol "GBTG."
Paul Abbott, Amex GBT’s chief executive officer, said: “With strategic initiatives over the last few years, including complementary accretive acquisitions, product and technology enhancements and lasting cost reductions, we have confidence that we are very well positioned to win a larger portion of the $1.4 trillion business travel market. As a publicly traded company, we will have the flexibility to further accelerate our growth strategy.
“Trading as a public company follows years of work to strengthen our market leadership position. While listing our company is an achievement, it also marks the beginning of a new phase of growth paired with a focus on delivering long-term shareholder value as the world’s largest publicly traded B2B travel platform.”
Amex GBT announced the acquisition of Ovation Travel Group in January 2021 followed by Egencia from owner Expedia in May 2021.
Prior to those acquisitions, the company announced it had bought 30SecondsToFly, an artificial intelligence-driven messaging service, in October 2020.